/biz/ - Business & Finance

>>4046822
>Novel idea here to prevent future potential 'why didn't I hold this...'
Or just sack up and hold yourself accountable.

>>4046822
>posting your private key to (((the cloud)))

>>4046822
Until that site stops existing 2 years from now and you're fucked.

>>4046834
this tbqh, do a time capsule in your garden instead

>>4046850
Yeah same concept. Was just an idea, anything like this maybe more secure/prevents you from accessing may be better

>>4046822
Too risky. What if the website goes offline? What if you mistype the address, email etc... What I did is I wrote my wallet address on multiple pieces of material in an airlock bag and buried it 3ft deep in my garden. I do this in case my house burns down, or floods or the likes. You could do this too if you want to prevent yourself from cashing out.

>>4046833
You shouldn't underestimate irrationality or discipline for all you know BTC could crash to $100 and go back up to +$10000 in the next five years. Even the most disciplined would worry as it hits like $2000 even

>>4046822
>encrypted with a password you use for banking/fb whatever for extra security
>a password you use for banking/fb whatever for extra security
>for extra security

>>4046822
Don't do this, use a time locked address instead, it is literally implemented in the bitcoin protocol

>>4046885
That has problems too, what if a hurricane/flood/random event/eviction destroys what you consider home. Or you pussy out and dig it up early and sell at a loss

>>4046921
Idk bout dis mad shit, its just a concept, I'm pretty sure there are much better methods of memorable encryption out there than just a simple password

>>4046822
iirc something like this already exists...some kind of digital time vault. somebody posted about it once.

>not memorizing your private key
your brain can't be hacked

>>4047025
https://www.youtube.com/watch?v=q-T0f0p8fIc

OH SHIT NIGGA

>>4046928
or you could just ask several friends / family members to help

each person could hold a piece of the private key,
in several different ways if you're paranoid

eg:

>you store first 1/4 of the key
>parents store middle 1/2
>friend stores last 1/4

and each person stores their piece of the code in:

>a physical copy in a safe part of their house (in case they die and you have to manually retrieve it)

>a digital copy in dropbox / a self addressed email (in case physical copy is lost somehow)

>>4046822
If BTC had smart contracts, you could've locked your funds out for 5 years basically, but ah well... Gotta wait for RSK.

>>4047132
>decentralized storage of private key
>except IRL

>>4046822
if I did this I would have to triple encrypt it first. not worth the trouble but interesting idea OP.

reminder: never share private keys anywhere. I accidentally copy pasted a private key in Chrome, did not hit enter, but still lost some BTC. If this happens to you consider your wallet compromised